Shares of SoFi Technologies (SOFI) have surged in recent weeks after the financial services firm unveiled new global remittance offerings, tapping into a lucrative market that complements its existing lending, investing, and financial management tools.
SOFI stock rallied more than 14% last week and is up 29% over the past month, according to Google Finance data. The stock closed at $17.18 on Friday, putting it within 7% of its 52-week high.
Perhaps more impressive, SoFi has rebounded 79% from its early April low.
At its current price, SoFi has a market capitalization of about $19 billion and trades at a price-to-earnings ratio of roughly 41.
SoFi’s recovery is especially notable given the initial negative reaction to its pivot toward higher-margin financial services. As Investors Observer noted at the time, the market likely misunderstood the move.
When that piece was published, SoFi shares were down 17.5% for the year. Now, they’re up nearly 22% in 2025.
“Long term, this is a company that’s going to be a much more profitable business, much bigger business, much more of a platform business, which is going to be high margin,” said Asymmetric Investor’s Travis Hoium.
Despite the initial negative reaction to its first-quarter earnings report, SoFi generated $771 million in adjusted net revenue, up 33% from a year ago.
The company is benefiting from product innovation, a strong earnings outlook, and broader momentum in the fintech sector.
After a solid first quarter, analysts expect that growth to continue in the second quarter. SoFi also added more than 800,000 new users during the quarter, boosting its total membership to nearly 11 million.
SoFi’s focus turns to Q2 earnings
SoFi is expected to report its second-quarter earnings on July 28, with analysts at Zacks Investment Research calling it the company’s next major catalyst.
According to Zacks’ latest estimates, SoFi is expected to turn a profit in Q2, with projected earnings of $0.06 per share. Revenue is forecast to grow 34.5% year-over-year to $803.09 million.
For the full year, Zacks projects revenue of $3.29 billion and earnings of $0.27 per share.
SoFi’s management has also offered an upbeat outlook for the quarter. “In the second quarter, we expect another meaningful increase in both volume and revenue,” said Chris Lapointe, SoFi’s CFO, referencing the company’s lending business platform.
“Our strong Q1 in terms of overall financial performance has allowed us to increase our outlook for the remainder of the year across all key measures,” he said.
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